US Consumers Falling Behind on Loans, With Credit Card Payments to Reach 13-Year High in 2023: Report

Credit cards as seen in Orlando, Fla., on July 1, 2021. John Raoux/AP Photo

American consumers are expected to fall behind on their personal loan and credit card payments next year at the highest rate in over 10 years, consumer credit reporting agency TransUnion has warned.

Credit card delinquency rates have generally remained near pre-pandemic levels, according to TransUnion, but this is expected to see a pronounced change in 2023.